Chair, in an answer to a previous question, I think the two most important aspects of that are, first, the significant reduction by about a couple of hundred billion dollars in our borrowing requirements that's gone on. That's obviously important and reflects a stronger economic recovery, therefore significant changes, strengthening of the deficit track of the government. The second is the point I made about extending the duration of the portfolio. Those are the two most important things.
I would also say with respect to our public debt charges, that's something that we look at pretty carefully. Right now in the base case, I think for 2022-23, those debt charges as a per cent of GDP are about 1%. They step up a little bit over the fiscal planning period to about 1.3% or 1.4% of GDP. But all of that is well below the 2% to 2.5% that those public debt charges were...say, just before the financial crisis.
All that to say, I think from a fiscal stability and systemic stability point of view, a lot of progress has been made here with respect to the government's overall debt management.